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ZAR

ZARJPY bottoming patternLike what I see here on ZARJPY. On the daily chart, we can see we hit a major support zone. On the 4 hour, we have been in a downtrend with lower highs and lower lows. However, the downtrend seems to be exhausting. We are seeing a double bottom here and even possibly a head and shoulders if we reject the neckline depicted and make a higher low. I would await for a nice break and close above the 7.075 zone. USDZAR is quite interesting as well. Perhaps some Rand strength in the short term.
Long
by Uncharted-FX
Trade Idea on USDZAR + Full Explanation by ThinkingAntsOkUse this as a guide to develop your own setup, we will explain what we see and what we are waiting for opening our trade on USDZAR Main items we see on the 4hs chart: a)The Price found resistance on a Major Supply Zone (check the Weekly chart) b)The bullish trendline is broken, and currently, the price is on the outside zone of that trendline c)On MACD we can observe a huge Bearish Divergence d)Using Wykoff Theory of Cause and Effect we should expect a downward movement at least of the same size of the current range e)We will wait for a 1h confirmation testing the descending trendline, If that happens we will set our Sell stop order as you can see on the chart f)Our Stop will be set above the resistance zone and our Take profit will be on the Daily Ascending trendline (check the Weekly Chart) g)The Risk-Reward Ratio of this trade is 1:2, remember to protect your capital, your maximum amount of money lost in case of a wrong forecast, should be 2% or less. Weekly Vision:
Short
by ThinkingAntsOk
Market News and Charts for September 03, 2019Hey traders! Below are the latest forex chart updates for Tuesday’s sessions. Learn from the provided analysis and apply the recommended positions to your next move. Good day and Good Luck! USD/ZAR The pair failed to breakout from a major resistance line, sending the pair lower towards a key support line. South African Rand is flat in today’s trading session as investors and traders await South Africa’s second-quarter GDP results. Analysts were already looking towards a weaker GDP report as South Africa’s debt is spiraling out of control and might cripple the country’s economy if no action will be taken. Aside from this, the U.S.-China trade war is expected to escalate on African futures. In April, the World Bank downgraded sub-Saharan Africa’s 2019 growth forecast from 3.3 percent to 2.8 percent. South Africa is also hit by the nationwide power outages by cash-strapped power firm Eskom. The United States slapped 15% tariffs on Chinese goods on Sunday – including footwear, smart watches and flat-panel televisions – while China imposed new duties on US crude oil, heightening fears of a global economic slowdown. FinanceBrokerage - Market News: USD/ZAR Chart USD/RUB The pair is seen to continue to move higher in the following days and to breakout from a key resistance line. U.S. President Donald Trump is once again making an unconventional move after he suggested to bring back Russia in the Group of Seven (G7). Russia was kicked out from the Group of Eight (G8) in 2014 after it annexed Ukrainian territory of Crimea. Ukraine is applying to become a part of the European Union, which is a member of the group (due to its role in the world economy). Analysts see the move as a preparation for the U.S. to influence the potential successor of Russian President Vladimir Putin. Putin has been Russia’s president since 1999. Despite Putin turning Russia into a military power once again, he failed to address domestic issues, specifically its plunging economy. Russia is one of the nine (9) countries on the verge of recession following the global economic uncertainty and slowdown. FinanceBrokerage - Market News: USD/RUB Chart USD/ILS The pair is expected to continue its downward movement and move towards its previous low. Secretary of State Mike Pompeo reaffirmed U.S. commitment with Israel saying America will give Israel diplomatic, legal, and military support in any war with Iran following the narrowing relationship between the United States and Iran. Iran had recently threatened to block the Strait of Hormuz, where 33% of world’s liquefied natural gas and 25% of total global oil consumption passes, making it a highly important strategic location for international trade. Under the term of U.S. President Donald Trump, the relationship between the two (2) countries had reached its high, specially Trump’s acknowledgment of Gaza Strip, West Bank, and Golan Heights as Israel territory. This helps Prime Minister Benjamin Netanyahu on his reelection bid. However, this relationship is already being challenged in the U.S. Congress by Muslim lawmakers. FinanceBrokerage - Market News: USD/ILS Chart USD/CZK The pair will continue its rally after it found a strong support line, sending the pair higher toward its 28-month high. The United States had completely aligned the Visegrad 4 – Hungary, Poland, Czech Republic, Slovak Republic – to its plan. These countries were now recipients of U.S. military equipment that can be used to contain Russia’s rising military and influence in Eastern Europe. Aside from this, the V4 successfully challenged the Germano-Franco leadership inside the European Union with the European Commission President-Elect Ursula von der Leyen visiting the members before she takes her position. The U.S. was also able to pressure the Czech government to dissed China’s telecom giant Huawei as it tries to expand in Europe through the Czech Republic. The Visegard has also recorded the lowest unemployment rate in the European Union, which signals that economic power might have shifted to eastern Europe. FinanceBrokerage - Market News: USD/CZK Chart
by Financebroker